Technology to boost Retailers Christmas Revenue

Rob Preston from Oracle has advised that retailers need to keep 5 key points in mind which utilising technology this holiday season. A typical retailer generates 20% of its annual revenue during the Christmas shopping period.

  1. Know the customer: here Rob highlights that customers are more likely to engage if the offers and promotions they are being presented with are relevant to them.
  2. Delivering the ‘Omnichannel’ experience: retailers need to deliver the ‘seamlessly connected experience’ from the physical store through to social media, website. The whole shopping experience for the customer is important.
  3. Delivering the basics: whilst consumers do enjoy the benefits modern technology can bring to the shopping experience, they still place great emphasis on product quality, value and availability.
  4. Focus on customising the right aspects of technology: only use non-standard technology where there is a competitive advantage to be had.
  5. Customers are in charge: they are making the decisions on what is sold and where and how. It is the retails’s responsibility to know whats required of them.

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